In 2024, the Cryptocurrency surge ended, with a 64% decrease in volume

In the past week, the cryptocurrency market has experienced significant volatility, while traders have been following Michael Saylor's advice to take a break.

Santiment's findings indicate that the 2024 Cryptocurrency rally has come to an end. The data shows that compared to the previous week, the volume has dropped by 64% to a seven-week low, while Bitcoin has hit a historical high.

This sharp decline, especially the sharp decline of speculative altcoins, is consistent with a seasonal pattern, as year-end holidays and financial planning often reduce market activity.

However, whale activity remains a key factor to watch. Their strong accumulation trend suggests the possibility of unexpected upward movements by the end of the year, especially if retail traders are not heavily involved.